The Square Foot

Cominar announces closing of $200 million of 4.23% Series 2 senior unsecured debentures

Cominar Real Estate Investment Trust announces that it has closed its previously announced public offering of $200 million aggregate principal amount of 4.23% Series 2 senior unsecured debentures due December 4, 2019. The Debentures were sold pursuant to an Agency Agreement with National Bank Financial Inc. and BMO Capital Markets, as co-lead agents, along with a syndicate that also includes Desjardins Securities Inc., RBC Dominion Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Canaccord Genuity Corp., Dundee Securities Ltd. and Macquarie Capital Markets Canada Ltd. for total net proceeds to Cominar of approximately $199.0 million, after deducting the agents' fee and the expenses of the offering. The proceeds from the sale of the Debentures will be used to repay amounts outstanding under its credit facilities, thus replacing short-term indebtedness with longer term debt.

The Debentures have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to applicable exemptions from the registration requirements.